July 1, 2021 – June 30, 2022
Revenue growth brought the school back to a surplus
Program revenue rose by $63,161 and contributions and grants rose by $55,712. Together those gains covered higher staffing and other school costs, turning the previous year’s $19,847 deficit into a $29,283 surplus.
Annual results
| Fiscal year ended June 30 | 2021 | 2022 |
|---|---|---|
| Contributions and grants | $106,908 | $162,620 |
| Program service revenue | $241,839 | $305,000 |
| Total revenue | $348,747 | $467,620 |
| Compensation and payroll taxes | $312,899 | $368,731 |
| Other expenses | $55,695 | $69,606 |
| Total expenses | $368,594 | $438,337 |
| Surplus or (deficit) | ($19,847) | $29,283 |
What TCA spent on the school
TCA devoted $417,018 to its elementary school program, or about 95 cents of each expense dollar. Management and general expenses accounted for the remaining $21,319.
Staffing was the largest cost. Salaries and payroll taxes together totaled $368,731. The school also spent $21,210 on supplies and $11,439 on occupancy. These costs are included in the annual expense total.
Financial position at June 30
| Fiscal year ended June 30 | 2021 | 2022 |
|---|---|---|
| Cash, savings and temporary investments | $70,173 | $91,061 |
| Property and equipment after depreciation | $46,058 | $54,405 |
| Total assets | $116,231 | $145,466 |
| Total liabilities | $1,585 | $1,537 |
| Net assets | $114,646 | $143,929 |
The school began the year with $114,646 in net assets. The $29,283 surplus increased that balance to $143,929 at June 30. All year-end net assets were available without donor restrictions, including the value held in property and equipment.